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Related party transactions
 9 Months Ended
Sep. 30, 2024
Related party transactions  
Related party transactions

15. Related party transactions

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In conducting its business, Peoples has engaged in, and intends to continue to engage in, banking and financial transactions with directors, executive officers and their related parties. Balances at September 30, 2024 include those acquired due to the FNCB merger.

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Peoples Bank has granted loans, letters of credit and lines of credit to directors, executive officers and their related parties. The following table summarizes the changes in the total amounts of such outstanding loans, advances under lines of credit, net of any participations sold, as well as repayments during the three months ended September 30, 2024 and 2023. Additions during the three months ended September 30, 2024 include loans and advances acquired in the FNCB merger.

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(Dollars in thousands)

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Three Months Ended September 30,

    

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2024

    

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2023

Balance, beginning of period

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$

99,491

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$

2,818

Additions, new loans and advances

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32,337

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29

Repayments

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(8,203)

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(875)

Balance, end of period

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$

123,625

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$

1,972

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At September 30, 2024 and December 31, 2023, there were no loans to directors, executive officers and their related parties that were not performing in accordance with the original terms of the loan agreements.

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Deposits from directors, executive officers and their related parties held by Peoples Bank at September 30, 2024 and December 31, 2023 were $131.9 million and $7.8 million, respectively.